After providing relief in income tax slabs, the central government announced a significant reduction in GST rates. This has directly impacted everyday citizens, salaried employees, and the MSME sector. In Ahmedabad, professionals mentioned to Aaj Tak that this decision is no less than a Diwali gift for them. For many, it seems like the festive season has already begun, with all eyes on September 22, when the changes will reflect in the market.
'PM Delivered the Promise, Diwali Gift Arrived Early'
Residents of Ahmedabad mentioned that Prime Minister Narendra Modi had promised changes in GST rates on August 15, a promise now fulfilled. A young professional shared that the items they use right from the morning have become more affordable. Purchasing cars, TVs, mobiles, and laptops is now cheaper. We received our Diwali gift two months in advance.
Traders Say Complexity Will Vanish
The MSME and trader communities are also pleased with this decision. A businessman in Ahmedabad stated that having primarily two GST slabs greatly reduces complexity. Previously, complaints related to fraud cases in transactions were common, but those issues will now be minimized.
Farmers and Women Also Rejoice
An expert linked to the defense sector said farmers will receive significant benefits this time. Almost all items needed by farmers are now in the 5% GST slab, reducing their costs and increasing income. Meanwhile, a reduction in insurance premiums will offer direct economic benefits.
Salaried women also expressed happiness over this decision. One woman said this is the first time the government has taken such a significant step for the middle class. As Gujaratis, we are preparing for Navratri, and the government has bestowed us with relief well before the festival.
Impact of Moving from 28% to 18% Slab
The government has moved goods from the 28% GST slab to the 18% slab. Experts believe this will result in direct savings of thousands, even lakhs of rupees, for ordinary people.
